Key dealers
- SEC has recognized an archiving for a Bitcoin site ETF from NYSE Arca, linked to Truth Social.
- The proposed ETF will use CF -directional brand for Bitcoin evaluation and will be stored by Foris Dax Trust Company LLC.
SEC has acknowledged an archiving From NYSE Arca to list and trade in truth Social Bitcoin ETF. While the move does not guarantee approval, it signals the beginning of the formal review process.
The proposed ETF, sponsored by Yorkville America Digital LLC, aims to track Bitcoin’s price performance before expenses and liabilities. Foris Dax Trust Company LLC will serve as Bitcoin Custodian.
Truth Social, Media Unit that works under Trump Media & Technology Group (TMTG), Archived an S-1 for its place Bitcoin ETF earlier this month, after Nyse Arca submitted a Form 19b-4 to list and trade with the fund’s shares.
Earlier today, Truth Social submitted a form S-1 to Sec for a new ETF, Truth Social Bitcoin and Ethereum ETF. The Hybrid Fund, which is proposed to list on NYSE ARCA, aims to invest in both Bitcoin and Ethereum, initially with a 3-to-1 relationship that benefits Bitcoin.
The notifications come after Sec approved 11 Spot Bitcoin ETFs in January 2024, including products from companies such as Grayscale, Blackrock, Fidelity and Franklin Templeton. The controller found that these ETFs had sufficient measures to prevent fraud and manipulation through surveillance agreements with CME’s Bitcoin Futures market.